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President Trump invited to testify in person or in writing, says Pelosi; a battle over the worth of rooftop-solar electricity when it's sold back to the grid; the flu gets an early start; and the value of Texas family caregivers.

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Former Pres. Barack Obama cautioned Democrats to be more moderate, and incumbent Louisiana Gov. John Bel Edwards wins over Trump-backed Republican opponent.

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OR’s Savvy Small Businesses Can Still Find Credit

October 15, 2008

Portland, OR - Amid all the grim economic headlines, there's good news for small business owners in Oregon. Certified Development Companies (CDCs) have money to lend and are looking for takers. CDCs team up with local banks to share the risk on loans to small companies for buildings and equipment.

They're interested in making loans to companies that plan to create new jobs by expanding. Phil Eng is president of a CDC, the Evergreen Community Development Association. He says the interest rates and down payments for these loans are lower than conventional loans.

"It's a great program! We just want to spread a little good news out there about a segment of the lending community that is actually very viable right now, in these tough times."

Even the most cautious banks are willing to make these deals, Eng explains, because they're not loaning the entire amount.

"That saves them money, which they can then turn around and lend to other businesses. It also creates less risk for them because they're only lending 50 cents on the dollar, and they have the first mortgage."

Eng says the 20-year, fixed-rate loans are guaranteed through the federal Small Business Administration 504 program. Evergreen is the largest CDC/504 lender in the Northwest.

The SBA doesn't allow the loans to be used for working capital or inventory, or to repay debt. Other details of the SBA 504 loan program are available at

Chris Thomas, Public News Service - OR